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Main  >  Car Makers News  >  GM  > 
GM lobbies Congress to avoid tax | detnews.com | The Detroit News
WASHINGTON -- General Motors Corp. is quietly lobbying Congress to help the automaker avoid a multibillion-dollar tax bill the company faces as part of its $13.4 billion loan agreement with the federal government. The Detroit automaker has been urging members of Congress to add a provision to the $819 billion economic stimulus bill to eliminate the tax liability, which officials said could cost GM as much as $7 billion, and jeopardize the company's restructuring. GM circulated a proposed fix to... Full article...

Article added: 2009-01-30 07:07:51   Article Views Rating: 197


Main  >  Car Makers News  >  Aston Martin  > 
Aston Martin returning to LMP1 in 2009
While the economic downturn has seen many car makers ceasing their involvement in many motorsport activities, Aston Martin has defied global trends by announcing a return to the Le Mans Prototype 1 category.Commemorating the 50th Anniversary of its outright win at Le Mans, Aston Martin will race two Works LMP1 cars bearing the iconic blue and orange livery of Gulf Oil. Honouring the legendary achievements of the 1959 DBR1 driving team of Carroll Shelby and Roy Salvadori, Aston Martin aims to return the... Full article...

Article added: 2009-01-29 11:14:21   Article Views Rating: 353


Main  >  Car Makers News  >  Chrysler  > 
Gettelfinger: Deadline for GM, Chrysler restructuring plans may be unattainable | detnews.com | The Detroit News
WASHINGTON -- United Auto Workers President Ron Gettelfinger said Monday that a Feb. 17 deadline for General Motors Corp. and Chrysler LLC to complete restructuring plans may be "unattainable." Last month, the U.S. Treasury Department agreed to loan the two cash-strapped automakers up to $17.4 billion to keep them afloat, contingent on the companies' filing detailed restructuring plans by Feb. 17 that include sacrifices from the UAW and bondholders, among others "Honestly, most people that have looked... Full article...

Article added: 2009-01-20 11:04:53   Article Views Rating: 184


Main  >  Car Makers News  >  Other  > 
Big 3 stay out of inaugural limelight | detnews.com | The Detroit News
WASHINGTON -- Detroit's Big Three automakers are all but invisible at this year's presidential inauguration -- canceling receptions, not sponsoring balls and leaving most executives at home. That's a far cry from past inaugurations when the companies were major event sponsors. In 2005, Ford Motor Co. donated $250,000 to George W. Bush's inaugural committee, and the Dearborn automaker, General Motors Corp. and then-DaimlerChrysler AG each sponsored a reception at upscale venues that were attended by the... Full article...

Article added: 2009-01-20 11:04:52   Article Views Rating: 165


Main  >  Car Makers News  >  Other  > 
UAW: Auto plans need more time | detnews.com | The Detroit News
WASHINGTON -- United Auto Workers President Ron Gettelfinger said Monday that a Feb. 17 deadline for General Motors Corp. and Chrysler LLC to complete restructuring plans may be "unattainable." Last month, the U.S. Treasury Department agreed to loan the two cash-strapped automakers up to $17.4 billion to keep them afloat, but the money is contingent on the companies' filing detailed restructuring plans that include sacrifices from key stakeholders, including the UAW and bondholders, among others... Full article...

Article added: 2009-01-20 11:04:50   Article Views Rating: 155


Main  >  Car Makers News  >  BMW  > 
2009 BMW M3 ALMS Race Car
BMW presented the racing version of the new BMW M3 at the Chicago Auto Show. Powered by a 485 bhp eight cylinder engine, this impressive race car has been designed to compete in the American Le Mans Series ALMS beginning in 2009. The car is based on the fourth generation of the BMW M3, the high-performance sports car produced by BMW M GmbH.BMW Motorsport Director Mario Theissen says: "With the sporting genes of the production BMW M3 being clearly evident, developing a racing version of the car was... Full article...

Article added: 2009-01-20 07:36:06   Article Views Rating: 720


Main  >  Car Makers News  >  Chrysler  > 
Chrysler Financial gets $1.5B | detnews.com | The Detroit News
Chrysler LLC's financial arm won a $1.5 billion loan from the U.S. Treasury Department Friday, money that should help the automaker boost sales by making it easier for consumers to finance new cars and trucks. Chrysler Financial LLC got the first $100 million on Friday and became the latest automotive company to receive money from the $700 billion Wall Street rescue fund. Chrysler responded by unveiling a new incentive program to get customers into showrooms. The offer, effective immediately, includes... Full article...

Article added: 2009-01-19 14:47:00   Article Views Rating: 208


Main  >  Car Makers News  >  Other  > 
Green vehicle stimulus unveiled | detnews.com | The Detroit News
House Democrats unveiled an $825 billion stimulus bill that includes $3.5 billion to dramatically increase U.S. battery research and speed the adoption of more fuel-efficient vehicles. The money for advanced battery support includes $2 billion -- half in loans and half in grants -- and $200 million to encourage electric vehicle technologies. The bill also calls for $300 million to retrofit older diesel engines and replace some diesel vehicles, such as school buses, and use $400 million to help state and... Full article...

Article added: 2009-01-16 06:07:14   Article Views Rating: 160


Main  >  Car Parts  >  Other  > 
You don’t climb into a MMR25 to be a driver
You do it because you’re completely hardcore. I will right here guarantee you that if cars like this begin to be driven in rallies, rally racing will be the new most popular race on television- nay, the new most popular sport in the world. Released at this years Los Angeles Auto Show Design Challenge; witness the tantalizingly futuristic Mitsubishi Motors MMR25 Rally Racer. Mitsubishi lays it down like so: “Continuing its world racing heritage and its industry leading expertise in electric... Full article...

Article added: 2009-01-15 07:44:40   Article Views Rating: 377


Main  >  Car Makers News  >  Aston Martin  > 
Aston Martin DBGT 2025 runs on hydrogen
The Beast: Aston Martin DBGT 2025 runs on hydrogen and is a futuristic car concept which deserves laurels for its sleek looks and stylish designs. It also is a zero emission vehicle and derives its hydrogen from a process of electrolysis. The Machine: Aston Martin DBGT 2025 has amazing curves, and an aerodynamic body and runs on a 6 liter V12 engine. A whole tank of water will be split into oxygen and hydrogen and this hydrogen is used as fuel. It can reach 62mph from 0 mph in 4.3 seconds. The Thrill... Full article...

Article added: 2009-01-11 08:54:47   Article Views Rating: 676


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